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Chapter 1 Entrepreneurial Traits

Delve into the diverse conceptual approaches to understanding entrepreneurs, such as the 'Great Person' approach and the Big Five Personality Domains. Explore key themes like need for achievement, autonomy, and risk-taking, and analyze gender differences in entrepreneurial traits.

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Chapter 1 Entrepreneurial Traits

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  1. Chapter 1 Entrepreneurial Traits

  2. Conceptual Approaches to Understanding Entrepreneurs • ‘Great Person’ approach • Motivations • Socio-cultural-demographic profiles • Entrepreneurial ‘types’ • The ‘trait’ approach • Cognitive or learning

  3. Five Factors of Personality • Neuroticism or emotional stability • Extraversion • Conscientiousness • Openness to experience • Agreeableness

  4. Critiquing Entrepreneurial Personality Traits • Understand personality holistically • Socio-demographic variables cannot be isolated from personality characteristics • Methodologies used to identify traits • Conflicting results in terms of the relative importance of specific traits. • Assumption that entrepreneurial behaviour is a function of personality • Ascribing personality characteristics: classical entrepreneurs vs. those with entrepreneurial characteristics or ‘lifestyle entrepreneurs’

  5. The Big Five Personality Domains - Extraversion • Confidence • Dynamism • Optimism • Sense of power • Aggressiveness • Capacity for enjoyment

  6. The Big Five Personality – Open to Experience • Resourcefulness • Versatility • Creativity • Intelligence • Independence • Imagination • Perceptiveness

  7. The Big Five Personality Domains– Neuroticism • Rebelliousness • Courage

  8. The Big Five Personality Domains – Agreeableness • Honesty • Integrity • Sensitivity to others • Trusting of colleagues • Co-operativeness

  9. The Big Five Personality Domains – Conscientiousness • Perseverance • Determination • Need to achieve • Efficiency • Commitment • Thoroughness • Accuracy • Responsibility

  10. Key themes in entrepreneurial traits • Need for achievement • Need for autonomy • Self-belief • Risk-taking • Locus of control

  11. Gender – Male- and Entrepreneurial Traits • Opinionated and persuasive • Goal-oriented • Innovative and idealistic • High level of self-confidence • Enthusiastic and energetic • Must be own boss

  12. Gender – Female- and Entrepreneurial Traits • Flexible and tolerant • Goal-oriented • Creative and idealistic • Medium level of self-confidence • Enthusiastic and energetic • Ability to deal with the social and economic environment

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